Solar Panel Cost Guide in Hampshire, IL (2024 Update)

  • Hampshire Solar Installation Cost: $17,188
  • 25-Year Savings: $10,132
  • Payback Period: 19.0 Years

See cost of a solar system near you:

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

Average Cost of Solar Panels in Hampshire

Let’s take a look at the average cost of solar in Hampshire.

The national average cost of solar panels is $2.66 per watt, but in Hampshire it’s 4 per watt.Since a 6.5-kW system is needed to cover the energy consumption of a typical home in Hampshire, the average price of going solar will be about $17,188 after claiming the federal solar tax credit of 0.

These figures are just averages, and how much solar costs for you will most likely look different based on your energy needs and what company you go with.With average savings of about $13,000 on power bills over 20 years, many homeowners in Hampshire find going solar has a decent ROI.

Click the button below to get connected to a highly rated solar panel company in Hampshire for a customized quote.

Solar savings over time in Hampshire

Year Return on Investment
1 years $-16,032
3 years $-13,719
5 years $-11,407
7 years $-9,094
9 years $-6,782
11 years $-4,470
13 years $-2,157
15 years $155
17 years $2,467
19 years $4,780
21 years $7,092
23 years $9,404
25 years $11,717

Top Solar Installers in Hampshire

Many homeowners opt for a solar panel company since installing solar panels by yourself can be a lot of work. Local solar companies can also help you maximize your return on investment by assisting with any local incentives you can benefit from and by offering warranties and repairs.

If you’d like to make the switch to solar but still aren’t certain which solar panel installer to go with, here are our recommendations for providers near you:

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

See all of the solar companies in Hampshire

Factors that Affect Solar Panel Costs in Hampshire

Cost is typically one of the most important factors for homeowners wanting to invest in solar. There are a few primary factors that determine your overall cost in Hampshire: solar equipment and system size, financing options and the solar installation company you choose. We’ll go over each of these briefly below.

Solar Equipment

One of the most important factors to consider when it comes to the cost of installing solar panels is the size of the solar system, which is measured in kilowatts (kW). The more energy your household consumes, the larger your system will likely need to be. You can expect to pay around $3,760 per kilowatt in Hampshire.The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you’ll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your electric bills. In addition, extra products, like solar batteries, can bring your total well above the Hampshire average.

Solar Financing Terms

If paying for a solar system out of pocket is too expensive, solar loans are a popular option because they lower your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.Though solar loans make adopting solar energy more accessible for Hampshire homeowners, they can also raise the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.

Solar Panel Installation Company

Lastly, the company you opt for to install your solar panels can affect how much you pay. Hampshire’s solar companies all have different labor costs and add varying upcharges to equipment. Additionally, some companies in Hampshire are more knowledgeable about local solar incentives and can help you take advantage of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could end up saving you more money in the long run.

Solar Panel Cost Data by System Size

System size Cost per system watt Solar system cost 25-Year savings Payback period
6 kW $3.91 $16,424 $4,352 19.8 years
8 kW $3.84 $21,477 $6,223 19.4 years
10 kW $3.76 $26,320 $8,306 19.0 years
12 kW $3.68 $30,952 $10,599 18.6 years
14 kW $3.61 $35,374 $13,102 18.2 years
16 kW $3.53 $39,585 $15,816 17.9 years
18 kW $3.46 $43,586 $18,740 17.5 years
20 kW $3.38 $47,376 $21,875 17.1 years

How to Save on Solar Panels

The solar panel company you go with will impact not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should take into account, such as:

  • Solar Panel Brands: The model of solar panel you need to install plays a part in which installer you should opt for, since different companies have different panels.
  • Installation Process: When going solar, it’s necessary to maintain an open line of communication with your solar panel installer. Confirm that you understand how the installation process will go and the completion timeline.
  • Contract: It’s important to look over your solar installer’s contract carefully to understand what services they will provide, what the warranty covers and what expectations you should have about the project timeline.
  • Warranty: A high-quality company stands out from other companies by providing the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

EcoWatch's Hampshire, IL Solar Cost FAQs

How much does it cost to install solar panels in Hampshire?

This is a tough question to answer precisely, because the cost depends on a variety of factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want additional solar equipment or higher quality panels, or if you have above-average energy consumption. On the other hand, you can spend less if you want a smaller solar panel system or less efficient solar panels.

Are solar panels free in Hampshire?

You can’t get solar panels for free in Hampshire. However, you may still be able to afford them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.

How much can I save on electricity bills after switching to solar?

Solar panels can potentially eliminate your electricity bills depending on your location and how much sunlight your home gets. Even if it doesn’t get rid of them completely, you can save a lot of money on your bills, about $692.51 per year.

How many solar panels should I get to power my home?

To figure out what solar panel system size you need, you should find out how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can usually produce about 250 to 400 watt-hours per hour, the average household will need 20 to 35 panels.

Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.

Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.

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